Post’s Williams retires, company’s future strategy uncertain

John Williams, founder of Atlanta-based Post Properties, has stepped down as chief executive after more than three decades. Williams, who will continue to chair Post’s board of directors, will be succeeded by company president David Stockert on July 1, 2002. Post, a leading developer of new urban apartment communities, will finish construction of projects in the pipeline, all of which are urban in form, mostly in infill locations. Beyond that, Post will not commit to a design strategy for its future endeavors. Post’s stock and earnings have slipped in the past year. The company and analysts generally attribute this to the economy and poor markets, especially in Atlanta, where 50 percent of Post’s units are concentrated. The company has focused on the New Urbanism for the last five years and has been in operation for more than three decades. The majority of Post’s 32,000-plus units are still conventional suburban in design. Williams has become a leading new urbanist developer after building Riverside, designed by Duany Plater-Zyberk & Company in 1997. That year Post acquired Columbus Realty Trust, a Dallas-based real estate investment trust that was a true new urban pioneer. The move bolstered Post’s expertise in urban design and development.
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